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Friday, December 29, 2006

Western Asian DIC's long-term plan for Liverpool

Dubai International Capital claims it has a long-term strategy for Engish Premier League club Liverpool which would include funds for new players. The western Asian company hit back at claims that it plans to sell the club, it is in the process of acquiring, as early as 2014 for a quick profit.

“What DIC are doing is planning to make sure that, if a deal is done, Liverpool have the best possible funding in place going forward under DIC stewardship," a DIC source told AFP. "This is particularly important as we would need to get on with the stadium early in 2007 and it takes time to sort out the necessary financing. This is also important in terms of making sure cash is available for the ongoing strengthening of the playing squad. Should DIC acquire the club, Liverpool will be well run, both on and off the pitch, and we are currently laying the groundwork to ensure that will be the case.”

But DIC officials have pointed out they are yet to successfully conclude their takeover of the club and that, as a result, talk of plans to sell it off for profit are premature.

“DIC have not yet formally made an offer, never mind completed a deal. Certainly there are no plans to exit an acquisition we have not even bought yet,” added the source. “We are very serious investors with considerable resources at our disposal and the ability to take a long-term view. Equally, we believe that we understand the responsibilities that come with owning Liverpool Football Club. DIC have made it clear that, should a deal be concluded, we would not interfere in the day-to-day running of the club.”